Sight Sciences (NASDAQ:SGHT) Issues Earnings Results

Sight Sciences (NASDAQ:SGHT) announced its quarterly earnings data on Wednesday. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.05), FiscalAI reports. Sight Sciences had a negative net margin of 49.67% and a negative return on equity of 55.72%. The firm had revenue of $19.70 million during the quarter, compared to analyst estimates of $18.47 million.

Sight Sciences Stock Down 0.7%

Shares of NASDAQ:SGHT traded down $0.03 during mid-day trading on Wednesday, hitting $4.30. 183,982 shares of the company traded hands, compared to its average volume of 316,939. The stock has a market cap of $233.92 million, a P/E ratio of -5.73 and a beta of 2.38. The company has a current ratio of 10.22, a quick ratio of 9.52 and a debt-to-equity ratio of 0.63. Sight Sciences has a 12-month low of $2.81 and a 12-month high of $9.24. The stock has a 50-day moving average price of $4.09 and a two-hundred day moving average price of $5.83.

Wall Street Analysts Forecast Growth

SGHT has been the subject of a number of research reports. William Blair reissued an “outperform” rating on shares of Sight Sciences in a research note on Thursday, March 5th. Cantor Fitzgerald set a $8.00 price objective on Sight Sciences in a research note on Monday, March 2nd. Stifel Nicolaus raised their price objective on Sight Sciences from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sight Sciences in a research report on Friday, April 10th. Finally, Citigroup cut their target price on Sight Sciences from $9.10 to $6.50 and set a “neutral” rating on the stock in a research report on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.31.

Insider Buying and Selling

In related news, insider Jeremy B. Hayden sold 13,761 shares of Sight Sciences stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $3.55, for a total transaction of $48,851.55. Following the transaction, the insider owned 369,770 shares of the company’s stock, valued at $1,312,683.50. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Rodberg sold 7,231 shares of Sight Sciences stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $3.55, for a total value of $25,670.05. Following the transaction, the chief financial officer directly owned 230,939 shares in the company, valued at approximately $819,833.45. The trade was a 3.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,273 shares of company stock worth $221,764 in the last ninety days. Corporate insiders own 28.90% of the company’s stock.

Institutional Trading of Sight Sciences

A number of hedge funds have recently bought and sold shares of the business. Alliancebernstein L.P. lifted its holdings in Sight Sciences by 5.5% during the third quarter. Alliancebernstein L.P. now owns 34,380 shares of the company’s stock worth $118,000 after acquiring an additional 1,800 shares during the period. Deutsche Bank AG lifted its holdings in Sight Sciences by 9.8% during the fourth quarter. Deutsche Bank AG now owns 27,355 shares of the company’s stock worth $217,000 after acquiring an additional 2,439 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Sight Sciences by 32.7% during the second quarter. Tower Research Capital LLC TRC now owns 11,665 shares of the company’s stock worth $48,000 after acquiring an additional 2,875 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Sight Sciences by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 303,634 shares of the company’s stock worth $1,045,000 after acquiring an additional 3,051 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Sight Sciences by 99.8% during the third quarter. BNP Paribas Financial Markets now owns 7,579 shares of the company’s stock worth $26,000 after acquiring an additional 3,785 shares during the period. 55.51% of the stock is currently owned by institutional investors.

Sight Sciences Company Profile

Sight Sciences, Inc is a medical device company focused on developing and commercializing minimally invasive treatments for chronic eye diseases. The company’s flagship products include the OMNI® Surgical System, designed to address multiple points of resistance in the eye’s natural drainage pathways to lower intraocular pressure in glaucoma patients, and the TearCare® System, a wearable device for treating meibomian gland dysfunction and dry eye disease through targeted thermal pulsation therapy.

Since its founding in 2012 and subsequent listing on the NASDAQ under the ticker SGHT, Sight Sciences has pursued a strategy of combining research-driven product development with a direct sales force model.